Climb Hire, an accelerated training program (part non-profit, part cooperative) that prepares overlooked and underrepresented tech talents for entry level tech jobs in the San Francisco Bay Area, received $2 million in funding to get the program on track.
The funding was granted by Google.org, the charitable arm of Google; Schmidt Futures, a philanthropic initiative from former Google Chairman Eric Schmidt; and the Charles and Lynn Schusterman Family Foundation.
The program runs a 16 week training period which include 100 hours of online training and 100 hours of in-person training. The training happens at night or on the weekends so that participants can still keep their current job.
At the end of the program, participants will have learned new skills and the support they need to find a job in the fastest growing field in the U.S. They pay nothing upfront.
One of the program goals is for the cohort to create a social network, referring each other to job openings and helping future alumni find work. According to CEO Nitzan Pelman, Climb Hire is still deciding what to charge companies for those services.
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Senay Ataselim-Yilmaz, Chief Operating Officer, Turkish Philanthropy Funds, writes that philanthropy often solves the very problems that stems from market failure. Some social issues, however, Â cannot be tackled by questioning the return on investment.